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Mortgage Payoff

December 16th, 2011 at 05:38 pm

Hey, everyone. I was just doing a little surfing and decided to look up a debt payoff calculator. This one is for credit cards. Would the same principal apply to mortgages? I plugged in my mortgage numbers and it said I would be paid off in 15 years, which would definitely be a blessing. This is the url for the debt calculator.

Text is http://cgi.money.cnn.com/tools/debtplanner/debtplanner.jsp and Link is
http://cgi.money.cnn.com/tools/debtplanner/debtplanner.jsp

Posted in Goals, Debt Payoff Challenge | 1 Comments »

1 Responses to “Mortgage Payoff”

  1. creditcardfree Says:
    December 16th, 2011 at 05:50 pm 1324057829
    1324057829

    Well, it must be close, but maybe a bit short. I put in my basic mortgage balance, interest rate, payment and said I would make that fixed payment. I gave me 24 years and 8 months, which is short by about 2 months.

    Look at bankrate.com for a mortgage calculator. My mortgage lender actually has a calculator on their site to show you how increased payments change the loan.

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